Amedisys (AMED) Announces Agreement for Associated Home Care to Acquire Home Staff, LLC
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Amedisys, Inc. (NASDAQ: AMED) today announced that its subsidiary, Associated Home Care, has signed a definitive agreement to acquire Home Staff, LLC, a personal care provider, headquartered in Worcester, Massachusetts.
Under the terms of the agreement, Associated Home Care will acquire substantially all of the assets of Home Staff from Fallon Health and VNA Care Network. The transaction is expected to close on February 1, 2017.
Home Staff, founded in 1977, offers professional nurses, chore workers, companions, transportation, Personal Care Assistants, Certified Nursing Assistants and homemakers to clients to encourage independent living 24 hours a day and seven days a week. With 502 employees, Home Staff has home personal care offices in Worcester, Needham and West Springfield and covers the Greater Metro Boston, Greater Worcester Region and the Western Massachusetts Region. It delivers care to 3,500 clients per year and generates approximately $10.5 million in annualized revenues.
“This transaction is exciting not only because it enlarges our personal care footprint in Massachusetts, it also positions us for a future collaboration with an innovative payor to help manage their most vulnerable patients,” stated Amedisys President and Chief Executive Officer Paul Kusserow. “We look forward to partnering with Fallon Health to show the value that our care can bring to programs such as PACE (Program of All-Inclusive Care for the Elderly), SNPs (Special Needs Plans) chronic disease management and population health management.”
Associated Home Care, a leading personal care agency in Greater Boston, was acquired by Amedisys in March of this year. In August, Amedisys acquired Professional Profiles, a private-duty home healthcare agency based in Danvers, Massachusetts. Home Staff will be the third acquisition by Amedisys or its subsidiaries in Massachusetts since Amedisys renewed its acquisition strategy in 2015.
“Once this transaction is completed, collectively, the Amedisys’ Personal Care Division (AHC) will have 2,500 aides providing care to 15,000 clients annually at home throughout Massachusetts – making us the largest personal care provider in the state,” stated Mike Trigilio, President of Amedisys Personal Care. “Closing this transaction allows us to focus on our future overall healthcare strategy, which is to bridge the gaps in continuum, invest in technology and to work hand in hand with payors to create solutions for the changing health care environment. Amedisys is now positioned as the leader in the Massachusetts for driving high quality care across the continuum while providing great value to payors and healthcare systems alike.”
“We are thrilled that we will join the Amedisys family,” said Joanne Walsh, Executive Director of Home Staff LLC. “We have been committed to the markets we serve for over 35 years, and this transaction will assure that our clients continue to receive the care they have come to expect from the aides they depend on.”
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Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesNeedham & Company, Definitive Agreement
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